07.03.2017
BayWa AG DE0005194062
DGAP-News: Premium veggies and fruit abound with a fresh UAE basket - Germany's BayWa and Al Dahra expand their value chain with EUR30 million agribusiness in Abu Dhabi
DGAP-News: BayWa AG / Key word(s): Joint Venture
Premium veggies and fruit abound with a fresh UAE basket - Germany's BayWa
and Al Dahra expand their value chain with EUR30 million agribusiness in Abu
Dhabi
07.03.2017 / 08:49
The issuer is solely responsible for the content of this announcement.
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Premium veggies and fruit abound with a fresh UAE basket
Germany's BayWa and Al Dahra expand their value chain with EUR30 million
agribusiness in Abu Dhabi
Munich/Abu Dhabi, March 07, 2017 - The German-based BayWa AG, with
agriculture as one of its core businesses, has tied up with the Abu Dhabi-
based Al Dahra Holding LLC, a leading international agribusiness company,
to set up a ground-breaking project in the UAE.
BayWa AG and Al Dahra Holding LLC today unveiled the EUR30 million project.
The new entity, Al Dahra BayWa LLC, will operate in the production of
premium vegetables like tomatoes using latest greenhouse technologies as
well as in the marketing of the produce in the seven-emirate federation,
and potential regional markets. This contract is subject to approval by the
competent authorities in the UAE.
Spending power in the UAE on fruit and vegetables from regional and
sustainable production is strong and the country has a healthy market for
premium fruits and vegetables. Al Dahra BayWa LLC will have its
headquarters in the UAE capital, Abu Dhabi.
Commenting on the new company, HE Khadim Abdulla Al Derei, Vice Chairman &
Managing Director of Al Dahra Holding LLC, said: "We are pleased to make
this announcement which comes as part of the strategy of food security in
the UAE and contributes to consolidating our initiatives in that
direction".
"Al Dahra BayWa LLC has a great potential for growth in the region, and we
are confident that this collaboration has the elements of success in this
continuously growing business segment", he added.
The joint venture is part of the specialties strategy in BayWa's
Agriculture Segment. "Through our trade network, we have identified the
United Arab Emirates as a very profitable market with a large growth
potential", explained Klaus Josef Lutz, the Chief Executive Officer of
BayWa AG. "On an international scale, we are observing a growing interest
to close the value chains between from growers to consumers - this
development is reflected in our decision-making." Mr. Lutz emphazised that
BayWa does not refer to standard products like wheat, corn and soy when
talking about the expansion of its value chain, but instead focuses
exclusively on special products for a profitable market segment in regions
with strong growth in order to diversify its agricultural business.
The climate-controlled greenhouse will be constructed on a site with an
area of 15 hectares. In a first step, the venture will produce up to 5,000
tons of premium tomatoes per year to be marketed to local food retailers.
In the controlled climate of the facilities, vegetables can be harvested
throughout the year. Water-efficient technologies will be used, and
compared to traditional greenhouses, the system will save 60 percent of
water used for irrigation.
Ends
About BayWa AG
Founded in 1923, BayWa AG is an international group with worldwide
operations. Its core fields of business are trade, logistics and additional
services in the core segments agriculture, energy and construction.
International activities are focused on Europe as well as the United States
and New Zealand. In the financial year 2016, the group's overall revenues
amounted to over 15 billion euros.
With 60%, the Agriculture Segment with trade and other services for the
agriculture and food industry has the largest share in the group's
revenues. The group plays a significant role in the fruit trading field.
BayWa is the largest single marketer of dessert pome fruit in the German
food retail sector. After the acquisition of T&G Global Limited from New
Zealand as well as the Dutch company TFC, vendor of exotic fruit and
vegetable specialties, the group has operations on all continents.
About Al Dahra Holding LCC
Al Dahra Holding is a prominent leader in the agribusiness sector,
specializing in the cultivation, production and trading of animal feed and
essential human food commodities.
Al Dahra has made considerable investments in the production, packaging and
marketing of grains. With a stake in Kohinoor Foods, a leading rice
producer in India and a fully owned subsidiary in Pakistan, Al Dahra is a
key player in the rice supply and trading business with four rice mills and
about a 400,000-ton annual production capacity. In addition, Al Dahra is a
shareholder in Loulis Mills, an expert in wheat milling and flour
production based in Greece, producing more than 200,000 tons of flour
annually. As part of its fruits and vegetables offering, Al Dahra
cultivates wheat, potatoes, corn and various citrus fruits in Egypt in
addition to olives in Morocco. Al Dahra has also entered into partnership
with Rudnap group for apples cultivation in Serbia and with Albert Bartlett
group based in the United Kingdom for the cultivation of potatoes.
Moreover, Al Dahra is focused on diversifying its investment strategy and
has made strong alliances and partnerships within the logistics and supply
chain sector and the Chemicals sector.
Note: Printable press photos, footage material and video statements can be
downloaded - without registering - from the BayWa media pool at https://
www.baywa-mediapool.com/.
You can find us on twitter at www.twitter.com/BayWaPresse.
For more information, please contact:
Thomas Berger, BayWa AG,
PR/Corporate Communications/Public Affairs,
Phone 0049 (0) 89/92 22-36 92, Fax 0049 (0) 89/92 12-36 98
E-mail: [email protected]
Aisha Alafifi
Special Projects Director
Al Dahra Holding LLC
Phone +971 2 656 5000
Contact:
Marion Danneboom, BayWa AG, Head of PR/Corporate Communications/Public
Relations,
tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98,
e-mail: [email protected]
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07.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: BayWa AG
Arabellastraße 4
81925 München
Germany
Phone: 089/ 9222-3691
Fax: 089/ 9222-3698
E-mail: [email protected]
Internet: www.baywa.de
ISIN: DE0005194062, DE0005194005,
WKN: 519406, 519400,
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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